Face Wallet Terms of Use

The terms of use (the "Terms of Use") set forth the terms and conditions of use of the Face Wallet services (the "Services") provided by HAECHI LABS Co., Ltd. (“Company”) between Company and the users of the Services ("Users"). The Terms of Use have the effect of a binding agreement between Users and Company.

Access to and use of SDK are governed by the Developer SDK License Agreement. In the event of a conflict between the Terms of Use of the Developer SDK License Agreement, the terms of the Developer SDK License Agreement shall prevail with respect to the use or access to SDK.

Article 1 (Agreement to Terms of Use)

(1) Company will post these Terms of Use in individual services provided by Company or on the initial screen of the Services or send notifications thereof in other methods. By actually using the Services, Users are deemed to have validly agreed to the Terms.

(2) Users shall use the Services in accordance with the Terms of Use. If Users are minors, they may use the Services only with consent from their parents or legal guardians. Furthermore, if Users use the Services on behalf of, or for the purposes of, a business enterprise, such business enterprise shall also agree to the Terms of Use.

(3) If there are any separate terms of use for the Services, Users shall further comply with such separate terms of use as well as the Terms of Use.

Article 2 (Modification of Terms of Use)

(1) Company may modify the Terms of Use or separate terms of use when Company deems necessary with or without prior notice to Users.

(2) The modified Terms of Use or separate terms of use will become effective once they are posted at an appropriate location on the website operated by Company. Users shall be deemed to have validly agreed to the modified Terms of Use and separate terms of use by continuing to use the Services.

(3) Although Company may amend the Terms of Use, account and post operating policies from time to time, the amendment will be made to the extent of not violating the relevant laws and Company will make available the reason for the amendment and the date of application in the Services in advance. In the case of significant changes to the Terms of Use that may be disadvantageous to Users, Company will notify in the Services at least 30 days in advance and individually through separate electronic means (e.g., e-mail and notice in the services).

Article 3 (Additional Terms)

Any matters not specified in these Terms and Conditions will be subject to relevant laws or Separate Terms and Conditions that the Company may adopt from time to time. If there is a conflict between these Terms and Conditions and the Separate Terms and Conditions, the Separate Terms and Conditions will control for that conflict.

Article 4 (Account)

(1) The Services allow Users to create digital wallets (the “Wallet”) which can store and transfer certain supported cryptocurrency. To use the Services and create the Wallet, Users shall (1) provide User's mobile phone number; (2) authenticate as User through single sign-on (“SSO”) login; and (3) set a personal identification number (the “PIN Code”).

(2) User can start transfer of cryptocurrency using the Services only after Company's server confirms receipt of a valid transmission initiation, such as authentication of the PIN Code. Although Company is under no obligation to investigate adequacy or accuracy of any transmission initiation, Company may inquire as to or investigate the such transmission initiation at its sole discretion. Users are responsible for keeping their mobile phone number and SSO login information secure and for all activities related to that information. Company will not be responsible if another person accesses User's mobile phone number and/or SSO account, enters the PIN Code and approves a transaction. Users shall immediately report to Company if their mobile phone number and/or SSO account are stolen or compromised.

(3) In the case User registers the PIN Code for use of the Services, User shall strictly manage it at his or her own responsibility for it to not used improperly. Company may deem any actions taken using the registered PIN Code as User's own actions.

(4) In the case User registers information about himself/herself to for the use of the Services, User shall provide genuine, accurate, and complete information and keep such information up to date at all times. Company will not be responsible for any losses resulting from User’s failure to update the information in the Services.

(5) Any User registered to the Services may delete his/her account and withdraw at any time. In the case of User’s withdrawal, unless Company is required to store User’s information pursuant to the laws and/or the Privacy Policy, User’s information and all the data will be deleted.

(6) In the case it is deemed that User breached or is likely to breach the Terms of Use, Company may suspend User's account or the Services without a prior notice to User. In the case Company suspends the Services from User, unless prohibited under the applicable laws, Company will contact User to download a copy of User’s private key and prepare to send the cryptocurrency to another wallet. If Company is unable to reach User, User’s Wallet may be maintained under an inactive status through the Services.

(7) User’s rights to use the Services shall expire when User’s account is deleted for any reasons. The account cannot be retrieved even if User has accidentally deleted his/her account, and Company asks Users to be aware of this. The accounts for the Services are for the exclusive use of and belong entirely to Users. All rights to use available in the Services may not be transferred, leased, or succeeded by any third party.

(8) Company may withhold consent to creation of User’s Account and/or ID in the following cases: if there is practically no space in the installed capacity to provide the Services; if Company determines there are technical issues in providing the Services; and/or if Company deems necessary on financial or technological grounds.

Article 5 (Protection of Personal Information)

Company respects the privacy of Users. Company uses User’s personal information only within the purposes and scope for which User’s consent is given to Company for providing the Services. Company processes personal information of Users in accordance with the Face Wallet Privacy Policy. Company exercises the utmost care for safely managing the information collected from Users.

Article 6 (Provision of Services)

(1) Company may provide Users with updates of the software needed to use Services once a new feature is available or an unnecessary feature is removed.

(2) Company reserves the right to limit access to the whole or part of the Services depending upon conditions that Company considers necessary, such as age, identification, and current membership status. Company reserves the right to modify or suspend the whole or part of the Services at Company's discretion at any time without any prior notice to the Users.

Article 7 (Advertisements)

Company reserves the right to provide Users with advertisements for Company or a third party, through the Services.

Article 8 (Developer App)

(1) The Services may be provided in conjunction with various sites and applications (“Developer App”) where other developers have implemented the software. If a developer has integrated the Services into the Developer App, logging in to each Developer App will require creating an account separate from the account for the Services, and each Developer App account will be managed by the developer of such Developer App. Company will have no control over or access to User's account in the Developer App and will not responsible for User's account and/or the use or misuse of the account.

(2) The Services may contain links or connection to Developer Apps, third-party websites, applications, or services that are not owned or controlled by Company, and Users will generally access the Services through the Developer Apps, third-party websites, applications, or services that are integrated with the Services. Services may include the Developer Apps, third-party websites, applications, or services provided by other developers. The responsibilities for such the Developer Apps, third-party websites, applications, or services shall belong to the third parties providing the same. In addition, such services may be subject to the terms of use and other conditions as set by such third-party service providers.

Article 9 (Restrictions)

(1) Users represent, warrant, and agree to not use or interact with the Services in the following manner.

  1. Acts in violation of the laws, court decisions, judgments, or orders, or administrative measures that are legally binding;
  2. Acts likely to undermine public order or morals;
  3. Acts that infringe intellectual property rights, such as copyrights, trademarks, or patents, rights to reputation, rights to privacy, and all other rights of Company and/or a third party under the laws or contracts;
  4. Acts that compromise the security of account of User or another person (e.g., allowing another person to log in to the Services with User’s account);
  5. Acts that misrepresent as Company and/or a third party or intentionally spread false information;
  6. Acts that attempt in any way to obtain passwords, accounts, or other security information from other Users;
  7. Acts that violate the security of a computer network or de-code security encrypted codes;
  8. Acts that decompile, reverse engineer, or otherwise attempt to obtain basic ideas or information of the source codes or the Services;
  9. Acts that attempt to access account, wallet, private key, or credentials of another user of a third-party service which provides access to that account, wallet, or private key of another User;
  10. Acts that illegally collect, disclose, or provide personal information, account information, and account history information of another person;
  11. Acts that interfere with the servers and/or network systems of the Service; and/or
  12. Acts that otherwise interfere with Company’s operation of the Services or other Users’ use of the Services.

(2) In the event of breach of any of the above by the User, Company may suspend provision of the Services to such User or terminate such User's rights to access the Services.

Article 10 (Intellectual Property)

Materials displayed, performed, or made available for use in the Services, including without limitation texts, graphics, data, articles, photos, images, and illustrations (collectively “Contents”), shall be protected under copyright and/or other intellectual property laws. Users undertake to (i) abide by all copyright notices, trademark rules, information, and restrictions contained in any Contents Users access through the Services; (ii) not use, copy, reproduce, modify, translate, publish, broadcast, transmit, distribute, perform, upload, display, license, sell, commercialize or otherwise use in any way any Contents not owned by User for any purpose; and (iii) not use without the prior consent of the owner of the Content or in any way in violation of any rights of another person (including Company).

Article 11 (User’s Liabilities)

(1) Users shall use the Services under his/her responsibility and shall bear all responsibilities for any acts performed on the Services and the results thereof. Company may take measures that Company deems necessary and appropriate if Company recognizes that User is using the Services in breach of the Terms of Use. However, Company shall not be responsible for preventing or correcting such breach.

(2) In the case Company has suffered damage (including attorney’s fees) directly or indirectly owing to the use of the Services (including the cases in which Company receives a claim from a third party due to such use), User shall immediately compensate according to Company’s request.

(3) In the event of a dispute between Users and between User and a third party, User agrees that Company is not obligated to intervene. If User has a dispute with one or more other Users, User shall indemnify Company, its officers, employees, agents and successors from such dispute and/or any types of claims, demands, or damage arising out of or in connection with the Services.

Article 12 (Limitation of Liabilities of Company on Risks Related to Cryptocurrency and Wallet)

(1) Considering that Company has no control over the blockchain, Company cannot and does not guarantee that transaction details submitted or received by users through the Services will be verified on the blockchain and cannot facilitate requests for cancellation or correction.

(2) Company cannot access the raw private key information for Users, and cannot unilaterally initiate transfer of cryptocurrency or access User's cryptocurrency. Company is not a broker-dealer, intermediary, agent, advisor, or custodian of User, and has no fiduciary relationship or obligation in connection with any other decisions or activities by Users when using User’s Wallet or the Services. Company is not responsible for the activities in which Users participate when using User’s Wallet, and Users shall understand the risks associated with cryptocurrency as explained below. User shall be solely responsible for any transmission initiation made through User's Wallet, and Company will not engage in any transmission initiation, and hereby disclaims all representations, warranties, claims, or warranties in connection with any transmission initiation.

(3) Users agree and understand the following:

  1. User (a) has the technical expert knowledge, capabilities, or professional advice necessary to review and evaluate the security, integrity, and operation of the Wallet to User’s satisfaction; (b) has the knowledge, experience, understanding, professional advice, and information to directly evaluate the advantages, risks, and applicable compliance requirements under the applicable laws for the use of User's Wallet; (c) is aware, understands, and accepts the risks associated with the User’s Wallet; and (d) generally accepts the risks associated with cryptocurrency and is responsible for conducting an independent analysis of the risks associated with cryptocurrency. In addition, User assumes and agrees that Company will not assume any responsibilities or liabilities for such risks. User hereby irrevocably waives and exempts from all claims in connection with the above against Company and its affiliates and their respective shareholders, members, directors, officers, employees, agents, and representatives, whether known or unknown to User.
  2. Company has not made any guarantees on the market in which cryptocurrency is transferred, purchased, and traded.
  3. User acknowledges and agrees that loss or destruction of the mobile phone number or the SSO account may compromise the security of the Wallet and cryptocurrency and may result in loss of cryptocurrency.
  4. If the private key is extracted from the Wallet, User acknowledges and accepts that User shall be solely responsible for maintaining the security of the private key and the loss or destruction of the private key may compromise the security of the Wallet and cryptocurrency and cause loss of cryptocurrency.
  5. Transaction details submitted by User through the Services may not be completed or materially delayed by the relevant blockchain used to process the transaction.
  6. Once the transaction details are submitted to the blockchain, Company cannot assist in canceling or modifying the transaction or transaction details.
  7. Company shall not be responsible for any inherent risks associated with the blockchain technology, including without limitations design or implementation flaws that affect the operation of the blockchain. Company shall also not be responsible for any issues related to the continued viability of the blockchain, including without limitation the ability of Company to have the technical expertise necessary to support the blockchain or the performance of the blockchain in relation to transaction time.
  8. Company shall make no guarantee as to the functioning of the governance or control mechanisms of the blockchain, which, among other things, may lead to delays, conflicts of interest, or operational decisions unfavorable to certain owners of cryptocurrency. User acknowledges and agrees that the protocols governing the operation of the blockchain may be subject to sudden changes in the rules of operation that may materially change the blockchain and affect the value and functionality of the cryptocurrency proven on that blockchain.
  9. Company shall not guarantee the security of the blockchain. Company shall not be responsible for any hacking, double spending, stolen cryptocurrency, or other attacks on the blockchain (including without limitation a number of attacks that could allow a country with sufficient computing power or another company to control and manipulate the records on the blockchain).
  10. Company shall not guarantee the security of AWS and is not responsible for any hacking or attack on the AWS system.
  11. Company shall not be responsible for any hacking, malicious attempts, or phishing scams intended to gain access to the Wallet via Company link, email address, or phone number.

Article 13 (Indemnification of Company)

(1) Company does not expressly or impliedly guarantee that the Services (including the Contents) are free from de facto or legal flaws (including stability, reliability, accuracy, integrity, effectiveness, fitness for certain purposes, security-related faults, errors, bugs, or infringements of rights). Company shall not be responsible to Users to provide the Services without such defects.

(2) Company shall not be responsible for any indirect, special, incidental, consequential or punitive damages (including such damages that Company or Users predicted or could have predicted) with respect to Company's contractual default or act of tort due to Company's negligence (except for gross negligence). The compensation for the ordinary damages in respect to Company's contractual default or act of tort due to Company's negligence (except for gross negligence) shall be limited to the total amount of received fees from User in the particular calendar month in which such damages occurred.

(3) Company shall have no obligation to inquire about, and shall not be liable for, any damages or other liabilities to any persons or entities related to the following:

  1. ownership, validity, or authenticity of cryptocurrency;
  2. collectability, insurability, effectiveness, marketability, or suitability of cryptocurrency; and/or
  3. loss, delay, failure, error, interruption of data, whether directly or indirectly due to circumstances beyond reasonable control, including without limitation acts of God, actions or inactions of civil or military authority, acts of the public enemy, wars, terrorism, riots, fire, floods, sabotage, epidemics, labor disputes, civil disturbances, disruptions, losses, or malfunctions of utilities, transportation, computer, or communications functions, rebellions, acts of nature, or default by third parties.

Article 14 (Contact Method)

In the case Company contacts Users in connection with the Services, Company shall post at an appropriate location on the website operated by the Company or use any other method as Company deems appropriate. In the case Users contact Company in connection with the Services, Users shall transmit to the customer inquiry page provided at an appropriate location on the website operated by Company or another method as designated by Company.

Article 15 (Governing Law)

The Terms of Use is originally prepared in the Korean language. The Terms of Use and the relationship between User and Company in connection with the Services shall be governed by the laws of the Republic of Korea. Any disputes between Users and Company arising out of or in connection with the Terms of Use or the Services shall be governed by the procedures as set forth in the Civil Procedure Act of the Republic of Korea.